Gold News

Tags:

Gold price dropped last week 0.5% to $1,281 as risk on in equities and stronger Dollar brought sellers in the precious metal pushing prices lower. Technically we were expecting breakout to the upside, but we were also prepared for an exit in case the break out was to the downside.

Tags:

Gold price continues to trade inside the triangle pattern. In our previous posts, we have mentioned the price levels we should keep in focus and both the upside and downside targets depending on the direction of the break out.

Tags:

Gold price remains trapped inside the triangle pattern. The price has tested the upper triangle boundary several times and it got rejected each time. Despite the dollar strength, the Gold price did not break below the lower triangle pattern boundary either. If the dollar starts to weaken, we may see the final leg higher in Gold towards $1,310-20.

Tags:

Gold price is challenging its recent highs. Price did not move as low as $1,270 as we initially expected maybe because the corrective pattern followed was a triangle. Trend remains bullish as long as price is inside the bullish channel.

Tags:

Gold price is sliding lower but in a slow move. Trend remains bullish but as we explained in previous posts, it was time for a healthy pull back towards $1,270. I continue to expect Gold price to move towards the lower channel boundary but overall I do not think the up trend is over.

Tags:

Gold price continues to make higher highs and higher lows. The price is approaching our Fibonacci target of 61.8% of the entire decline, as we mentioned in previous posts. There no warning signs for a major top.